Take that EMI load off your back: How to renegotiate interest rate on home loan

If you have bought a house on borrowed money, EMIs, or equated monthly instalments, are likely to be the deepest cuts in your monthly budget.

EMI amounts, in turn, are a function of interest rates. Most banks are currently offering new borrowers home loans at an interest of 8.35 8.5 per cent. The rate, however,